Only six percent of those weighing in indicated that they would show their displeasure by closing their account and begin using a pre-paid debit card. Such cards can be useful tools, particularly for those who have a tarnished credit file or need to control their spending. Although many do not check the applicant’s credit prior to issuing the card, consumers choosing to utilize this option should read the agreement’s fine print, as pre-paid debit cards may assess monthly fees, thus not offering the desired safe haven from checking account fees.
The actual survey question and results are as follows:
A. Probably never notice = 16%
B. Grin and bear it = 11%
C. Shop for another bank = 51%
D. Complain to them = 16%
E. Close my account and begin using a pre-paid debt card = 6%
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